Legal Representation in Buying and Selling a Second-Hand Apartment
Most problems in a second-hand apartment purchase surface after signing, and almost all of them could have been found before it. This guide sets out what to check in the property itself, what to check in the register, and what only a lawyer will find.
The register and the plan
The extract from the Land Registry is the property's identity document. It shows who actually holds the rights, and whether a mortgage, an attachment, a charge, a caution or a third-party right is recorded against the property.
All that is needed to obtain it is the block and parcel number, and it can be produced online. Do not rely on the extract the seller produces, as it may not be current.
Alongside the extract it is worth reading the condominium plan, which shows what the apartment actually includes: whether the storeroom and parking space are registered as part of the rights or are merely in use, and the registered area of the apartment.
A gap between what is shown on site and what appears in the plan is among the most common problems, particularly with parking, storerooms and building additions.
The condition of the property
A first impression of an apartment is almost always emotional. It is worth holding it back and going through the things that cost money: signs of damp, cracks in walls, the state of windows and doors, and whether the electrical points work.
Two rooms deserve separate attention because they are the most expensive to renovate: the kitchen and the bathroom.
A defect found before signing is not necessarily a reason to walk away. Often it is a point of negotiation on price. A defect found after signing is already a dispute.
The area and the building
An apartment can suit precisely and still the surroundings decide it: a busy road, a noisy business nearby, a shortage of parking, or the absence of essentials such as schools and a clinic.
In a condominium it is worth speaking to residents and establishing two things that appear in no document: the actual standard of maintenance, and whether large shared expenses are expected, such as a lift, a facade renovation or an urban renewal scheme.
A valuer's assessment
A property valuer gives two answers available nowhere else: what the property is worth on the market, and whether it has defects or irregularities not visible to the eye.
Where the purchase is financed by a mortgage, the bank will require a valuation of its own. It is important to understand that this is carried out for the bank's purposes and not the buyer's, and does not replace an independent check.
What the lawyer checks
- The rights. What exactly is being sold, and who is entitled to sell it, including the rights of a spouse, heirs or co-owners.
- Charges and attachments. What is registered against the property, and how it is removed ahead of the transfer.
- The tax position. The seller's betterment tax exposure and the buyer's purchase tax, before signing rather than after.
- The payment schedule and securities. Matching payment dates to the removal of charges and to delivery of possession.
Signing a memorandum of understanding before the legal checks is the most expensive mistake at this stage. Such a memorandum may bind the parties even where they believe it is only a draft.
In summary
The checks fall into three groups: what the eye sees on a visit, what the register and the plan record, and what only a lawyer examines. The first affects the price, the second what is actually being bought, and the third whether the transaction completes as agreed.
For advice on buying or selling an apartment, contact us by phone at 02-5953322 or on WhatsApp at 050-441-1343.
Before you sign, talk to us. Our office drafts the agreement for you, conducts the negotiation and represents you through to completion of registration. Our real estate department has accompanied transactions for over 15 years, alongside an architect, a surveyor and a property valuer. Call 02-5953322, send a WhatsApp message to 050-4411343 or leave your details in the form below, and we will get back to you as soon as possible.
What people ask most often
What should the title extract be checked for before signing?
Is a memorandum of understanding binding?
What is the position when a defect appears only after possession is taken?
The bank appoints a valuer. Is a separate valuation needed?
What costs arise beyond the purchase price?
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Before you sign a memorandum
Tell us where you stand: whether a title extract has been produced, whether anything has been signed with the seller, and whether a mortgage timetable applies. The preliminary checks are better done before signing than after.